Page 123 - Latest Updates on Reserve Bank of India
OIS rates fall as US Fed seen the end of interest rate hike cycle
Earlier, traders were expecting the central bank to cut the repo rate, starting February
 "OIS rates fall as US Fed seen the end of interest rate hike cycle")
Global growth in manufacturing and investment slowing down: RBI report
To achieve India @100, India's real GDP needs to grow at 7.6 per cent annually over the next 25 years
 "Global growth in manufacturing and investment slowing down: RBI report")
Fight against inflation far from over as food price spikes: RBI bulletin
Surging food prices accelerated India's annual retail inflation rate to 4.81% in June, snapping four months of easing and erasing any chance of a rate cut this year
 "Fight against inflation far from over as food price spikes: RBI bulletin")
RBI buys $7.37 billion in spot foreign exchange market in May: Bulletin
The Indian rupee depreciated by over 1% against the dollar in May
RBI puts up Innovation Pavilion at third meeting of G20 FMCBG meeting venue
Set up at Mahatma Mandir Convention Centre, the Innovation Pavilion' also features an informative video explaining the various facets of these two initiatives
Test results: More than Rs 1 trillion AUM of debt mutual funds under stress
The test is conducted to evaluate the effect of various risk factors such as rate risk, credit risk, liquidity risk, and redemption risk
 "Test results: More than Rs 1 trillion AUM of debt mutual funds under stress")
PSBs stepping up recovery of bad loans to meet FinMin's 40% target: Report
In the five years that ended on March 31, 2022, the PSBs were able to recover only 14 per cent, Rs 1.03 trillion, out of the total written-off loans of Rs 7.34 trillion
 "PSBs stepping up recovery of bad loans to meet FinMin's 40% target: Report")
RBI, Central Bank of UAE sign two MoUs for trade in local currencies
With messaging system MoU, no need to depend on SWIFT, says Governor Das
HDFC Bank offers interoperability of UPI and CBDC QR code payments
The lender has registered over 1 lakh customers and 1.7 lakh merchants under CBDC pilot programme
 "HDFC Bank offers interoperability of UPI and CBDC QR code payments")
Higher inflation, oil price to keep RBI on hold; cap market gains: Analysts
Another worry for the RBI and the markets are the monsoons back home (intensity and spatial distribution)
 "Higher inflation, oil price to keep RBI on hold; cap market gains: Analysts")
Reserve Bank of India looking at banks' retail loan book more granularly
Sharp rise in unsecured loans in one year
 "Reserve Bank of India looking at banks' retail loan book more granularly")
HDFC Bank gets six months to move HDFC clients to external benchmark
It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark
 "HDFC Bank gets six months to move HDFC clients to external benchmark")
RBI eyes 1 mn digital currency transactions daily by year-end: DG
The RBI has devised the e-rupee as a digital alternative to physical cash - using blockchain distributed-ledger technology
 "RBI eyes 1 mn digital currency transactions daily by year-end: DG")
RBI governor Shaktikanta Das asks bank CEOs to focus on governance
Discusses large exposures, recoveries from written-off accounts
RBI governor asks banks to remain extra careful, focus on governance
The governor held meetings with the MD and CEOs of public sector banks and select private sector banks
 "RBI governor asks banks to remain extra careful, focus on governance")
Banks remain wary of RBI's VRRR auctions, park under 25% of target amount
RBI has held six VRRR auctions so far this month to remove excess liquidity from the system; total notified amount in the last five auctions was Rs 6 trn, in which banks have parked only Rs 364,232 cr
Should states cough up higher interest rates for their fiscal profligacy?
Debate over how states manage their finances likely to pick up as the constitution of the 16th Finance Commission is round the corner
 "Should states cough up higher interest rates for their fiscal profligacy?")
SC rejects plea against RBI permitting Rs 2,000 exchange without ID proof
A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha dismissed the appeal filed by lawyer Ashwini Updhyay in his personal capacity
 "SC rejects plea against RBI permitting Rs 2,000 exchange without ID proof")
India should move towards complete convertibility of rupee
The IDG believes that CAC is not a pre-condition for internationalisation of INR, or vice-versa, and makes several recommendations over the short-term and medium-term horizons
Bank of India plans share sale to meet Sebi's minimum public holding norms
State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent
 "Bank of India plans share sale to meet Sebi's minimum public holding norms")